Trump's top aides disclose complex financial ties
- Author: Zachary Reyes Apr 01, 2017,
Apr 01, 2017, 20:19
In 54 pages of a financial disclosure, President Trump's son-in-law and key White House adviser, Jared Kushner lists assets and debts owned by him and his wife, Trump's daughter Ivanka.
The financial background of Kushner, Bannon and Cohn are detailed in new forms that disclose the assets that they held when they walked in the doors of the White House - before administration counsel advised them to resign from various postings, divest certain holdings or recuse themselves from future decisions.
According to the The New York Times, they "will remain the beneficiaries of a sprawling real estate and investment business still worth as much as $741 million, despite their new government responsibilities".
Their concerns have centred on whether the hotel could allow the Trumps to profit from foreign governments or special interests who stay at the hotel "in order to curry favour with the administration".
Those documents will not be disclosed, White House lawyers said, although the public will eventually have access to "certificates of divestiture" issued to employees who are seeking capital gains tax deferrals for selling off certain assets. Kushner was cleared for the job in January, while Ivanka Trump announced this week that she would assume an official role.
Neither Trump nor Vice President Mike Pence's assets were included in the documents, nor are Cabinet members.
"One of the really interesting things that people are going to see today - and I think it's something that should be celebrated - is that the president has brought a lot of people into this administration, and this White House in particular, who have been very blessed and very successful by this country, and have given up a lot", he said.
Together, the couple's real-estate and business investments are still worth as much as $714 million, as they begin their lives in public service.
Before joining the White House as an aide to Bannon, Julia Hahn was a mysterious, flame-throwing, right-wing blogger for Breitbart, where she earned $117,217 in 2016.
Bannon, disclosed assets between $13 million and $56 million, including his influential political consultancy, Bannon Strategic Advisors Inc., worth as much as $25 million.
Bannon reported $191,000 in consulting fees earned from the conservative outlet Breitbart News Network, which he formerly headed, as well as more than $125,000 for work at the data firm Cambridge Analytica, which worked for the Trump campaign, and more than $61,000 in salary for a conservative nonprofit group.
Ivanka Trump agreed to become a federal employee in the past few days, and she will have to file her own financial disclosure in the coming weeks. Kushner and his father, Charles, also have liabilities worth much as $5 million to the US unit of Israel Discount Bank. Bannon's consulting firm pulled in more than $125,000 from Cambridge previous year.
Gary Cohn, head of the White House National Economic Council and a former Goldman Sachs president, has assets worth at least $US230m - but potentially more, as many of his assets are simply listed as worth "over $US1m".
Mr Cohn had income ranging from $US48 million to almost $US77 million ($A63 million to $A101 million) in the year preceding his engagement in the White House, though it could be much higher.
Conway also reported consulting work for which she received more than $5,000 for the California-based Center for Medical Progress, whose undercover videos at Planned Parenthood clinics led to felony charges this week for recording without permission. He had income of between US$48 million and US$55 million.
However, The New York Times reports the couple's empire could be far bigger than this, with a value of up to $741m (£591m). The president must also file periodic financial disclosures, but he is not required to make another disclosure until next year.